Bobby Larsen
Market Values of Your Current Investments
13 May 2024 | 8 replies
do you look them up on yardi by simply putting in the situs address ?
Nick Knoblach
Partnership Investing in Joshua Tree, CA
27 April 2024 | 5 replies
@Nick KnoblachOf course, you should always confirm with your own CPA who is familiar with your situation, but here's a few generalities:- CA taxes residents on worldwide income, so the CA resident will likely be taxed on the entirety of income that he/she receives on his/her CA resident tax return, including his/her share of rental income- CA will likely want to collect tax on all income earned in CA due to CA-sitused real property, so any non-residents in CA should likely be prepared to file a non-resident income tax return in CA to report his/her share of income earned from the CA real property-I'm not familiar with MN rules, but most states generally allow for a credit for taxes paid to another state.
Charles Adams
LLC vs Personal Ownership?
1 March 2024 | 31 replies
If by chance, someone went after me... first, they'd never find me as owner and had to find the situs of the trust to even file a suit.
Claire Blary
Llc set up and attorney Florida
8 January 2024 | 6 replies
But my understanding as a layman is that Nevada has charging order as sole legal remedy, so if you are attacked personally, and if there is no veil piercing or fraudulent action on your part, the asset of your Nevada LLC should be protected from you.However, if your property is in Florida, you will not be able to act in court as your Nevada LLC has no situs in Florida.
Harvey Yergin IV
Marketing Tips - Where to Get Non-Owner Occupant List
2 November 2018 | 2 replies
As a tip for those who need it, you can probably find this for free in your county's website by seeing which owners have different addresses in their Mailing Address and Situs (Property Address).
Gian Piero Bandieramonte
General Parnership and Inheritance Taxes
20 October 2018 | 5 replies
I highly recommend you consult with a knowledgeable CPA in the area of international/cross-border taxation especially as it pertains to estate taxes.You are correct - a nonresident alien is generally subject to an estate tax on their U.S. situs assets of 40% on the excess of $60,000.
Ivan C.
Tax-efficient way to gift US real-estate owned by foreign person
23 July 2018 | 1 reply
We understand that real-estate is a US situs asset so it is subject to US gift tax.
Radai R.
small MFH in SF bay area - how can this possibly make money?
9 July 2018 | 7 replies
Monthly income (only rents) - 8500 (the listing seems to indicate only a single unit is currently occupied, and at below-market rate).Monthly expenses:property taxes: 1500 assuming this will be 1.2% of the deal value of 1.5M. current assessment is ~330k - https://www.sccassessor.org/index.php/all-situs-se...management: 850. thats 10% of rent, not taking into account placement feesvacancies: 425. this is assuming a 5% vacancy rate (may even be lower, market is hot) but doesnt take mgmt company placement fees.water & sewer: ~415. thats according to city sewer rates and avg water bill. no details in the listing. listing says this is not metered per-tenant.insurance: 375. zillow estimate.
Joseph Lucas Jr
Series LLC.. Can I move it?
19 August 2018 | 67 replies
I did provide above an entire Legal book reference of law you can purchase to get and read with lots of law and cases and situs etc but I guEss that proclamations.
Brian Davis
What State to form my LLC?
15 May 2021 | 10 replies
@Brian DavisAs a general rule you would want an LLC in the state where the property is located as it will need situs in that state to be able to act in court,As some state have very low outside liability protection on their LLC it is recommended to have these LLC owned by a holding LLC in a good asset protection state.